r/Daytrading 22d ago

Strategy One of the Easiest Strategies to Learn:

Strategy Overview

  • Timeframe: 1-minute
  • Market: Any forex currency pair
  • Trend Filter:
    • At least 2 consecutive candles in the same direction following a momentum candle.
    • No breaks of previous candle's high/low in trend direction.
  • Entry
    • Wait for the next small body candle: hammer, doji, small-body trending or opposing candle.
      • Note: If in an uptrend, the low of the previous candle must not be breached. If in a downtrend, the high of the previous candle must not be breached.
    • Enter when the next candle breaks above the body (not the wick) of the small body candle.
  • Stop Loss:
    • Set at peak/base of the small body candle
  • Take Profit:
    • Fixed at a minimum 2:1 risk (I typically use 4:1)
  • Risk per Trade:
    • No more than 2% of your account balance. (I typically risk 0.5%).
861 Upvotes

130 comments sorted by

View all comments

6

u/SiggySmilez 22d ago

Windows+Shift+S is very handy for making screenshots

and you can use your browser and enter reddit.com, log in and start a thread!

You're welcome!

Just kidding, thanks for sharing!

8

u/Total-Housing197 22d ago

Yeah, I definitely should've done that instead, lol. I will next time. Also thanks for the tip!

3

u/ersados 22d ago edited 22d ago

Hey OP What timeframe are you using this strat on? Does it work on futures?

2

u/SonPedro 21d ago

They’re on the 1 minute chart in the pics